Short Take: Agribusiness sells $50 million in Micron stock

J.R. Simplot, an agribusiness, has sold roughly 9.5 percent of its holdings in Micron Technology for $50 million, a Simplot spokesman confirmed. Simplot, which sold 1.8 million of its 18.7 million shares, conducted the sale during the past week in an effort to raise capital for its fertilizer plant expansion. The company previously held an 8.85 percent stake in Micron.

J.R. Simplot, an agribusiness,
has sold roughly 9.5 percent of its holdings in Micron Technology for $50 million, a
Simplot spokesman confirmed. Simplot, which sold 1.8 million of its 18.7
million
shares, conducted the sale during the past week in an effort to raise
capital for its fertilizer plant expansion. The company previously held an
8.85 percent stake in Micron.